Kazakhstan's manufacturing remained under pressure in May, PMI data shows
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Romania’s industrial production price index increased by 3% y/y in July after bottoming out at 2.5% y/y in June but remaining below the 3.8%-3.9% values in February-April, the statistics office said on August 4.
As the effects of the oil price dynamics vanish toward the end of the year, the industrial price inflation will tend to ease toward lower rates below 3%. However, the impact of the fuel excise tax hikes in September and October are expected to keep it above 3%, and perhaps significantly more depending on the exchange rate dynamics (which are among the effects of the expansionary fiscal policy) and on inflation rates in the euro area.
The monthly industrial price inflation in Romania was zero in July, after small negative values in the previous three months. The price index, in absolute value, remained constant from June and it has not changed significantly since March, when it reached the past year’s highest level following the oil price rally that started toward the end of 2016.
The energy prices and the exchange rate have exerted moderate (yet rising) positive inflationary pressures: the local currency weakened by 1.8% y/y and the prices of energy goods increased by 2.1% y/y (from negative 0.5% y/y in June).
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